Don’t Miss the 1099 and W2 Deadline: January 31st is Approaching!

January 31st is quickly approaching, and the deadline for providing 1099s to contractors and W2s to employees is coming. Failing to meet this deadline can result in significant penalties, so it’s crucial to ensure all your information is up-to-date and that you’re prepared for this important tax obligation.

What You Need to Know:

• 1099s: These forms are issued to independent contractors who have earned more than $600 from your business during the year.
• W2s: These forms are issued to employees who have earned income from your business.

Key Actions to Take Now:

• Review and Update Information:
  • Verify the accuracy of all contractor and employee information, including names, addresses, Social Security numbers, and the amount of income earned.
  • Update any changes in contact information.
• Gather Necessary Documentation:
  • Collect all necessary documentation, such as invoices, contracts, and payment records.
• Ensure Compliance:
  • Familiarize yourself with the latest IRS regulations and ensure your reporting procedures comply with all applicable laws.

Let Jonze & Associates Help:

At Jonze & Associates, we understand that navigating the complexities of 1099 and W2 reporting can be time-consuming and overwhelming. Our experienced team can assist you with:

• Gathering and verifying all necessary information.
• Preparing and electronically filing 1099s and W2s accurately and on time.
• Ensuring compliance with all IRS regulations.
• Answering any questions you may have about year-end tax reporting.

Don’t wait until the last minute! Contact us today to schedule a consultation and let us help you navigate the 1099 and W2 deadline with ease and confidence.